Iran is seeking to bar US and Israeli ships from passing through the Strait of Hormuz and plans to require compensation from countries it deems hostile before allowing their vessels to use the crucial waterway. This move is part of a proposed Iran-Oman deal intended to manage the Strait, according to local media reports.

The agreement, currently under review in Iran's parliament, also includes a proposed ban on cargo related to Israel and a fee structure covering services such as insurance and environmental costs, as reported by the semi-official Fars news agency.

Thomas Warrick, a former US State Department official and now a senior fellow at the Atlantic Council, commented on the development, saying, “That’s clearly not going to go down well in Washington. Instead of both sides making concessions, both sides are increasing demands.”

Separately, Fars reported that on Thursday, Iranian naval forces struck "hostile targets" at the entrance to the Strait of Hormuz, citing an unnamed source but providing no further details. These developments coincided with a rise in oil prices and a fall in stock markets.

Sources